Privatization Of NAPOCOR on Maharlikanism

NATIONAL TRANSMISSION CORPORATION (TRANSCO)

Thu, 30 Sep 2021 00:00:00 +0000

Section 1. Creation of TRANSCO

As per Section 8 , TRANSCO, which shall be wholly owned by PSALM, has been created to assume the transmission facilities of NAPOCOR, all other assets related to transmission operations, including nationwide franchise of NAPOCOR for the operation of the transmission system and the Grid, and to assume the electrical transmission functions of the NAPOCOR, including among others, the planning, construction and centralized Grid operation and maintenance of high voltage transmission facilities, Grid interconnections, ancillary and other allied facilities. As per and in accordance with the requirements , NAPOCOR, PSALM and TRANSCO shall take such measures and execute such documents to effect the transfer of the ownership and possession of the transmission and subtransmission facilities of NAPOCOR and all other assets related to transmission operations. Upon such transfer, the nationwide franchise of NAPOCOR for the operation of the transmission system and the Grid shall transfer from NAPOCOR to TRANSCO.

Privatization Of The Assets Of Napocor

Thu, 30 Sep 2021 00:00:00 +0000

Section 1. Section 47 of EPIRA

PSALM shall privatize the assets transferred to it from NAPOCOR in accordance with these Rules. Within 180 days from the effectivity , PSALM shall submit a Privatization plan for the endorsement by the Power Commission and the approval of the President of the Philippines.

PSALM Corporation

Thu, 30 Sep 2021 00:00:00 +0000

Section 1. Creation of PSALM.

As per Section 49 , a government-owned and -controlled corporation known as the “Power Sector Assets and Liabilities Management Corporation”, hereinafter referred to as the “PSALM Corp.” or “PSALM,” was created to take ownership of all existing NAPOCOR generation assets, liabilities, IPP contracts, real estate and all other disposable assets. All outstanding obligations of the NAPOCOR arising from loans, issuances of bonds, securities and other instruments of indebtedness shall be assumed by the PSALM, within one hundred eighty (180) days from the approval . NAPOCOR and PSALM shall take such measures and execute such documents to effect the transfer of the ownership and possession of all the assets, rights, privileges, and liabilities required by the Act to be transferred by NAPOCOR to PSALM.